Bajoras Appraisals upholds the utmost professional ethics

We consider our what we do a profession. Requirements to become a licensed appraiser have become more difficult than ever before. So it goes without question these days that real estate appraisal can certainly be called a profession rather than a trade. In our field, as with any profession, we must follow strict ethical considerations.

For an appraiser the primary obligation is to their client. Typically, for a normal residential appraisal, the lender places the order to the appraiser, becoming the appraiser's client. Certain matters pertaining to an assignment can only be discussed with an appraiser's client. As a a homeowner, if you want to obtain a copy of an appraisal report, you generally have to request it through your lender. Other responsibilities also include, numerical accuracy depending on the scope of the assignment, attaining and sustaining an adequate level of competency and education, and the appraiser must conduct him or herself as a professional. Here at Bajoras Appraisals, we take these ethical responsibilities very to heart.

There are some scenarios in which appraisers will have fiduciary responsibilities to third parties, including homeowners, buyers and sellers, or others. Those third parties normally are listed in scope of the appraisal assignment itself. An appraiser's fiduciary roll is restricted to those parties who the appraiser is aware of, based on the scope of work or other things in the framework of the assignment.

There are also ethical standards that have nothing to do with clients and others. For example, appraisers must keep their work files for at least five years - at Bajoras Appraisals you can rest assured that we abide by that rule.

We meet or beat the industry standards and rules set in place for professional behavior. We won't accept anything less from ourselves. We never do assignments on contingency fees. That is, we are not able to agree to do an appraisal report and collect the fee only if the loan closes. We can't do assignments on percentage fees. That is perhaps the appraisal industries biggest no-no, because it would invite appraisal fraud since increasing the estimate of the home would up the fee. We don't do that. Other unprofessional practices may be defined by state law or professional organizations that the appraiser belongs.

The Uniform Standards of Professional Appraisal Practice (USPAP) also states unethical behavior as accepting of an assignment that is contingent on "the reporting of a pre-determined result (e.g., opinion of value)," "a direction in assignment results that favors the cause of the client," "the amount of a value opinion," in addition to other situations We diligently follow these rules to the letter which means you can be confident we are working hard to objectively determine the home or property value.

When you request an appraisal from Bajoras Appraisals we'll make sure you're getting the professional service you expect along with the an ethical approach with appraisals that we're known for.